NEWS

RSU To
Acquire High Rise Building for Bartlesville Campus

Rogers
State University has announced it will acquire the historic nine-story Reda
Building to serve as a new location for its campus in Bartlesville.

The
University of Oklahoma Board of Regents, the governing board for RSU, approved
the acquisition at its meeting on Monday, Dec. 6, in Norman.

The
building was built in 1919 and is located at Fourth Street and Dewey Avenue in
downtown Bartlesville. The university plans to begin offering classes in the new
location in the fall of 2005.

"The
acquisition of the Reda Building is the first step in the establishment of a
full-service, public, four-year university campus in Bartlesville," said RSU
President Dr. Joe Wiley. "This is a major expansion of higher education
opportunities for Bartlesville area residents and a key component of regional
economic development."

The
university will purchase the building from the Schlumberger Co. of Bartlesville
at an undisclosed price, pending a final agreement.

A task
force of Bartlesville community leaders, RSU faculty members and students has
been studying the educational and economic development needs of the Bartlesville
area for the past several months. The task force has developed a strategic plan
for the RSU campus in Bartlesville, which includes acquiring the
170,000-square-foot building, expanding the number of four-year and two-year
degrees available at the campus, improving student services, adding faculty
members with doctoral degrees and increasing enrollment at the campus to more
than 2,000 students by 2015. Total employment at the new Bartlesville campus is
expected to reach 70 faculty and staff members by 2015.

During
the next few years, the university anticipates expanding the number of
bachelor's and associate's degrees offered at the Bartlesville campus in areas
such as accounting, business management, education, liberal arts, nursing and
social sciences.

"The
presence of a public university campus in our community is a major enhancement
to our quality of life," said Bartlesville Mayor Ted Lockin. "The expansion of
educational opportunities at RSU is a significant step forward for the citizens
and employers of Bartlesville and the surrounding region. The new RSU campus
will serve as a catalyst in the redevelopment of downtown Bartlesville."

RSU
presently leases space in two small facilities on East Adams Road in
Bartlesville, where it has operated a branch campus since 1984. Approximately
400 students are enrolled at the campus.

"RSU's
ability to expand higher education services in Bartlesville has been restricted
by the limited space available in the small leased facilities," Wiley said.
"Relocating to the Reda Building will provide us with ample physical space to
operate a full-service university campus."

RSU plans
to renovate approximately half of the building for use as classroom, laboratory
and office space, and will continue to lease other available space to existing
and prospective tenants.

Acquiring
the building, completing necessary renovations for classrooms, laboratories and
offices, and establishing academic programs will cost approximately $9 million
over the next five years, the university has determined. Funding will be
obtained from a combination of private and public sources, including
contributions from corporations, foundations and individuals, and community
funding sources in Bartlesville. The university expects to announce a major
fundraising campaign in Bartlesville next year to help support expansion of the
campus and the development of academic programs.

The total
operating budget for the RSU Bartlesville campus is $964,000 this year and is
projected to reach $8.9 million annually by 2015.

A
demographic study completed by RSU last year revealed a need for more higher
education programs in the Bartlesville region, including Washington, Nowata and
Osage counties. The study also indicated the presence of a large number of
students eligible to transfer to the RSU campus in Bartlesville from several
counties in southern Kansas.

"The
Bartlesville area is one the largest regions of the state without a full-service
public university branch campus," said Kelly Diven, CEO of the 66 Federal Credit
Union and member of the RSU Bartlesville Task Force. "The new campus will be a
major contributor to the economic success of the region."

The
expansion of academic programs at the RSU campus in Bartlesville is part of
Brain Gain 2010, an initiative by the Oklahoma State Regents for Higher
Education to increase the percentage of Oklahoma residents who hold a bachelor's
degree or higher to 28 percent by 2010.

Currently, 20 percent of state residents have a bachelor's degree, compared to
the national average of 24 percent. The percentages are significantly lower in
the area served by the RSU Bartlesville campus, including nine percent in Nowata
County and 14 percent in Osage County.

"We are
very pleased that RSU has chosen to expand the educational opportunities in
Bartlesville," said Evan Zorn, President of the Bartlesville Development
Corporation. "The full-service campus location in the Reda Building will really
help the downtown development effort. We are looking forward to the increased
activity as a great step ahead toward revitalizing and bringing focus to the
central business district."

The
historic building was constructed by the Bartlesville Masonic organization,
which occupied the ninth floor of the building until 2000. The building
originally served as headquarters for the Cities Service Oil Co. and later was
the home of the Reda Pump Co. Schlumberger, a worldwide oilfield services
company that has major operations in Bartlesville, is the most recent owner of
the Reda Building.

The
ornate fašade of the building is constructed of cut stone and brick. The
interior of the first-floor lobby is adorned with high-quality materials
including marble and original light fixtures.

In 1955,
a seven-story annex was erected adjacent to the south side of the building.
Extensive renovations to the original building and the annex facility have been
completed during the last several years.

A recent
engineering study concluded that the building is in excellent condition and is
mostly compliant with the Americans With Disabilities Act, although some
renovations may be needed to bring the building into full compliance with
federal requirements.

The study
included full evaluations of all structural, mechanical, electrical and
environmental aspects of the building. The study found the roof, windows and
elevators to be in excellent condition.

RSU has
been the fastest-growing university in Oklahoma since it was accredited as a
four-year institution in 2000. The main RSU campus is located in Claremore and
the university also operates a branch campus in Pryor. Total enrollment at all
three campuses, including the RSU Online program, is more than 3,700 students.

For more
information about the RSU Bartlesville campus, call (918) 335-3500.